Mobile advertising accounts for 76% of that spending as marketers increasingly shift spending to the social network’s mobile ads.
Citing rising retail competition, the company will focus on B2B sales.
After selling online for more than 12 years—and with sales declining for the past three—computer products retailer Geeks.com says it can no longer compete in a market dominated by large consumer electronics retailers and has shut its operations. The company will instead focus on its wholesale division, which operates the business-to-business computer products and consumer electronics e-commerce site Evertek.com.
The Geeks.com home page, featuring a “Sorry, we’re closed” sign, says that it has been shut down since Aug. 2. Although it ceased taking orders on that day, the e-retailer says it will maintain a small staff on hand to fulfill prior orders, answer questions, process returns, and honor warranties. “Be patient, as we will have no phone support,” it says in the home page message. It refers customers instead to the e-mail address email@example.com.
Geeks, No. 358 in Internet Retailer’s 2013 Top 500 Guide, hit a peak of $58.2 million in sales in 2009, selling refurbished as well as new computer products and electronics gadgets to “provide the geeky tech consumer an alternative avenue to purchase quality high-tech products.”
But with rising competition in recent years, including from a big rival it does not name but likely is Amazon.com Inc., No. 1 in the Top 500, Geeks.com it says it has been unable to continue in retailing. “The e-commerce landscape, as well as the consumer electronics market, has changed dramatically with intense competition and a 1000-pound gorilla (do we really need to say who) competitor that can lose millions of dollars. They can lose money with impunity, supported by the stock market. We cannot.”
Geeks.com’s 2012 sales were $35.2 million, down 39.5% from $58.2 million in 2009.
Nonetheless, Geeks also held out the potential for re-opening its retail e-commerce site. “We are very hopeful that we can turn ordering back on at some future date,” it says on its home page, declining to provide more specifics.
It also says the corporation behind Geeks will continue to operate the B2B site Evertek.com, which requires customers to log in to shop among products ranging from desktop computers and TVs to computer motherboards and cooling systems for computer components. Evertek is operated by Temecula, CA-based Evertek Computer Corp. Efforts to contact Geeks.com were unsuccessful, and Evertek did not immediately return a request for comment.